Topgolf Callaway Brands Corp. (NYSE:MODG) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Topgolf Callaway Brands Corp. (NYSE:MODG) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,256 shares of the company’s stock after purchasing an additional 3,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Topgolf Callaway Brands worth $3,901,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC purchased a new position in shares of Topgolf Callaway Brands in the first quarter worth approximately $182,000. SG Americas Securities LLC increased its position in shares of Topgolf Callaway Brands by 5.2% in the second quarter. SG Americas Securities LLC now owns 36,961 shares of the company’s stock worth $566,000 after acquiring an additional 1,819 shares in the last quarter. Davis Investment Partners LLC increased its position in shares of Topgolf Callaway Brands by 35.8% in the second quarter. Davis Investment Partners LLC now owns 75,810 shares of the company’s stock worth $1,134,000 after acquiring an additional 19,988 shares in the last quarter. Leeward Investments LLC MA increased its position in shares of Topgolf Callaway Brands by 5.6% in the second quarter. Leeward Investments LLC MA now owns 672,087 shares of the company’s stock worth $10,283,000 after acquiring an additional 35,688 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Topgolf Callaway Brands by 327.6% in the second quarter. Fifth Third Bancorp now owns 2,527 shares of the company’s stock worth $39,000 after acquiring an additional 1,936 shares in the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Wall Street Analyst Weigh In

MODG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Topgolf Callaway Brands from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Roth Mkm reiterated a “buy” rating and issued a $16.00 target price (down from $17.00) on shares of Topgolf Callaway Brands in a research note on Thursday, November 14th. Jefferies Financial Group cut shares of Topgolf Callaway Brands from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $12.00 in a research note on Thursday, August 29th. TD Cowen reduced their target price on shares of Topgolf Callaway Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, September 17th. Finally, Raymond James cut shares of Topgolf Callaway Brands from an “outperform” rating to an “underperform” rating in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Topgolf Callaway Brands has a consensus rating of “Hold” and an average target price of $14.92.

Topgolf Callaway Brands Stock Down 3.0 %

Shares of NYSE MODG opened at $8.01 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.14 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -100.13, a PEG ratio of 5.45 and a beta of 1.70. Topgolf Callaway Brands Corp. has a 12 month low of $7.93 and a 12 month high of $16.89. The stock has a 50-day moving average price of $9.31 and a two-hundred day moving average price of $11.87.

About Topgolf Callaway Brands

Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game.